Finance

Finance

United Credit Bank doubles personal deposits

11 March 2009 12:06 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of March 1, Azerbaijan-based United Credit Bank posted its assets at AZN 32.911 million, up 6.5% from a year ago.
Vahid Aliyev, deputy chairman of the Board, said loan portfolio grew by 8.8% to AZN 23.164 million, deposit portfolio rose by 3.8% to AZN 8.730 million, total equity capital increased reached AZN 13.372 million and authorized capital stood at AZN 12.108 million.
Consumer lending increased by 7% to AZN 9.343 million and non-term deposits by individuals nearly doubled to AZN 2.393 million.
Revenue increased by 15.6% year-on-year to AZN 904 000 and interest income rose by 14.4% to AZN 811 000 and non-interest income jumped by 27.4% to AZN 93 000.
Expenditure jumped by 81% to AZN 1.057 million, interest expenses made AZN 298 000 and non-interest expenses reached AZN 759 000.
The bank operates 5 branches and 5 ATMs across the country.
Rossiyski Kredit Azerbaijani-Russian bank was established by 1 legal and 2 individual bodies in 1996 and was renamed in 1998 as United Credit Bank.